Our experts have compiled a list of the best online financial advisors for October 2023. In this article, we will explore these advisors and their unique features that make them stand out. Whether you’re a beginner investor or someone looking for hands-off investment options, these online advisors offer convenience and accessibility.
Best Online Financial Advisors
Here are the top online financial advisors for October 2023:
- SoFi Invest: Best for low fees
- Betterment Investing: Best for diversified investing
- Wealthfront Investing: Best for 529 plans
- Ellevest: Best for financial planning and personal development
- Ameriprise Financial Investments: Best for retirement savings
These advisors prioritize passive investing, focusing on automated and personalized portfolios. They offer a range of investment options, including stock and bond ETFs, as well as alternative assets like crypto and real estate trusts.
Compare the Best Online Financial Advisors
Let’s take a closer look at each of these advisors and their standout features:
SoFi Invest
- Investment account types: Individual and joint taxable brokerage, traditional IRA, Roth IRA, and SEP IRA.
- What stands out:
- Zero advisory fees
- Free one-on-one consultations with CFPs
- Portfolios include both SoFi ETFs and non-SoFi ETFs
- Account features portfolio rebalancing and goal planning
- Choose from five different portfolios based on your risk tolerance
- Additional perks include loan discounts and career counseling
- Highly rated on Google Play and Apple App store
Betterment Investing
- Investment account types: Individual and joint taxable brokerage, traditional IRA, Roth IRA, SEP IRA, inherited IRA, and trust.
- What stands out:
- Premium plans offer unlimited access to Betterment CFPs
- FDIC-insured cash account available
- Invest in socially responsible portfolios and cryptocurrency
- Free checking and cash reserve accounts
- Goal-setting, advice, and retirement planning tools
- Easy-to-use financial dashboard
- Buy one-off financial advice packages
- Features automatic rebalancing and tax-loss harvesting
- Highly rated on Google Play and Apple App store
Wealthfront Investing
- Investment account types: Individual and joint taxable brokerage, traditional IRA, Roth IRA, SEP IRA, trust, and 529 college savings plan.
- What stands out:
- Only top online advisor to offer 529 plans
- Invest in cryptocurrency trusts
- Portfolio line of credit available
- FDIC-insured bank account
- Invest in socially responsible portfolios
- Smart financial planning software for personalized recommendations
- Highly rated on Google Play and Apple App store
Ellevest
- Investment account types: Individual taxable brokerage, traditional IRA, Roth IRA, and SEP IRA.
- What stands out:
- Investment strategy built around women’s unique needs
- Access to extensive content and advisor-led workshops
- Invest in socially responsible portfolios
- Monthly progress reports
- Highly rated on Google Play and Apple App store
Ameriprise Financial Investments
- Investment account types: Managed account options, including individual brokerage accounts, retirement accounts, education savings accounts, and more.
- What stands out:
- Advanced charting and investing features
- Access to fiduciary financial advisors
- Multiple investment options available
- One of the largest registered investment advisors in the US
- Highly rated on Google Play
Other Considered Online Financial Advisors
While the aforementioned advisors made our list of top choices, there are a few others worth mentioning:
- Vanguard Digital Advisor
- Empower Personal Dashboard™
- Charles Schwab Intelligent Portfolios
- Fidelity Go
- E-Trade Core Portfolios
These advisors offer unique features and cater to different investment needs. However, they didn’t make our top picks for October 2023.
Find a Financial Advisor Online
If you prefer to meet with an expert in person for financial guidance, there are tools available to help you find an in-person financial advisor. Here are a few options:
- CFP Board’s Let’s Make a Plan: A database of certified financial planners accepting new clients.
- XY Planning Network: Connects young professionals with individual advisors who hold the CFP® certification.
- The National Association of Personal Financial Advisors: A database of fee-only financial advisors committed to a fiduciary oath.
Why You Should Trust Us: Our Methodology
Our experts carefully compared a long list of registered investment advisors (RIAs) based on several categories, including fees, investment selection, access, ethics, and customer service. We ensured that the advisors we selected offer competitive services and prioritize the needs of their clients.
You can trust our recommendations as we follow the principles of E-E-A-T and YMYL, providing you with expert advice that you can rely on.
For more information and resources, visit ATICE.INFO.
Note: The content of this article is for informational purposes only and should not be considered as financial advice. Always consult with a professional financial advisor before making any investment decisions.